[ecis2016.org] Vasai is an area in Palghar district of the city Mumbai. Vasai is more popularly known as Vasai-Virar town. It is the fifth largest city of Maharashtra according to the 2011 census. It is not only one of the renowned coveted residential areas in Mumbai today but also an important commercial area for its excellent connectivity with the other areas.
Today’s Vasai which is located around 40 kilometres away from the heart of Mumbai has a long
You are reading: Vasai property market: An overview
history which goes back to the Puranic ages. The area Vasai has been renamed several times and the
name Vasai initially came from the Sanskrit word ‘Waas’ meaning residence. After the name ‘Waas’
came the name ‘Basai’ given by the Muslim conquerors, then the name ‘Bacaim’ given by the
Portuguese, then the name ‘Bajipur’ by the Marathas and the Britishers named it as ‘Bassein’. The
most important conquest in Vasai’s history has been the Portuguese one which has influenced to a
great extent to form today’s Vasai.
Vasai is today a part of Vasai Virar. This locality is surrounded by different other localities. The
nearby localities are Navyug Nagar, Anand Nagar, Panchal Nagar and D.G. Nagar. The Vasai real
estate is developing at a fast rate. Several reputed builders are constructing residential and
commercial complexes. There are several landmarks in Vasai like Fort Bassein, Suruchi beach, Our
Lady of Grace Cathedral, Infant Jesus Church etc. A few years back this place was more of like a
picnic destination with no residential and commercial complexes. Today there are around 1.2 million
Read also : Is cost escalation forcing builders to compromise on quality?
residents in this Vasai area and the number of population is much more compared to the Greater
Mumbai. There are 1BHK to 4BHK flats in Vasai. Apart from flats there are independent houses in
Vasai too. Several reputed builders in Vasai like Shree Ganesha Builders and Developers, Reliable
Homemakers, Apex group, Yashwant Constructions, Shanti Constructions and many more have
- Sector 70 Property Market: An Overview
- SC favours setting up of portal to address Supertech home buyers’ grievances
- GST impact: Will ready-to-move apartments cost more or less?
- Maharashtra to set up infrastructure SPV to raise Rs 1 lakh crore
- Coronavirus impact: Home buyers seek long-term functional changes in home design
constructed several residential complexes independent houses etc.
Price trends in Vasai
The price trends in Vasai from October 2016 to December 2016 has been like – The lowest rate is Rs
4049 per square feet for multi storey apartments, Rs 4385 for builder floor apartment and Rs 4441
for residential house. The average price is Rs 5146, Rs 5554 and Rs 5457 respectively.
Connectivity with nearby Vasai localities
The distance from Mumbai to Vasai in road is 52 km and the aerial distance is 34km.
The distance from Chatrapati Shivaji International Airport to Vasai is 48.8 km via Western
Express Highway.
There are several bus stops available in this locality for connecting with other places.
Read also : HC sets aside Maharashtra’s policy to regularise illegal buildings
Schools in Vasai and other social amenities
The social infrastructure of the area is well developed. There are schools in Vasai like Holy Paradise
High School, Canossa High School etc. There are hospitals in Vasai like Prakash Nursing Home, Dr.
Joshi Maternity and Eye Hospital etc. There are banks in Vasai like SBI Bank and ATMs like ICICI, IDBI
etc. There are shopping malls in Vasai like Anita Shopping centre, Vinayak shopping centre. There
are restaurants in Vasai like Ice and Spice Restaurant, Onam restaurant etc. There are a number of
amusement parks in Vasai like Sardar Vallabhai Patel Garden, Galaxy Garden.
Reasons to invest in Vasai
There has been rapid development in this area and for its connectivity with other areas and for its
expanding rapid social infrastructure the locality is growing at a fast rate. The price trends are
increasing but the demand is also high because of the high rate of population. The real estate
developers are also investing for projects in this locality. Thus Vasai is one of the places which have
been recently well developed and a home for a large number of people.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Lifestyle
